President Trump has congratulated Boris Johnson after his BIG win in the UK General Election. Boris’ Conservative party managed to get 364 seats out of the 650 total. Boris only needed 326 for a majority. “Congratulations to Boris Johnson on his great WIN!” Tweeted Trump.
Last night was a huge victory for the conservative party in the UK. Now that Boris Johnson has the majority, Brexit is closer than ever! Boris Johnson will want to keep his promise and leave the EU by January 31st.
Johnson now has the room to guide the Brexit deal that he previously concluded with the EU, through the British Parliament without any trouble. This can be done before Christmas. After that, the European Parliament will have to give its approval. On January 31st, the UK will formally trigger Article 50 to leave the EU, the UK will then enter a transitional phase.
Johnson wants to negotiate a trade agreement with the EU by the end of next year. However, this seems very challenging. Normally, negotiations on such complex legal issues take many years. And it is not only about trade, but also about cooperation in areas such as safety, social security and fishing rights, where the EU would prefer to make binding agreements as soon as possible.
If both parties agree, there is a possibility to extend the transition period. By June at the latest, the British must state whether they are asking for an extension of one or two years, something that Johnson has already indicated that he does not want.
Johnson’s gamble to hold elections early has worked out well: it gives him room to negotiate more with the EU.
If the negotiations do not succeed however, there will still be a hard Brexit. The EU and the UK will then automatically fall back on the trade rules of the WTO, the World Trade Organization. There will then be high import and export tariffs.
Boris Johnson has one very lucrative offer already. President Trump has announced more than once, that when the UK leaves the EU, the UK and US can strike a massive trade deal. “Britain and the United States will now be free to strike a massive new Trade Deal after BREXIT. This deal has the potential to be far bigger and more lucrative than any deal that could be made with the E.U. Celebrate Boris!” President Trump Tweeted.
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